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Traction control light usually comes on when 1 tire is spinning faster then the others, it will also cut power to prevent engine and/or transmission damage.
The gear with the exclamation point is a check transmission light. One of the most common issues that cause this indicator light to illuminate is that the transmission fluid temperature is higher than normal. It may also cut power to prevent damage to transmission
I drive a 2012 Ford Ranger 3.2L, Auto, 4X4
While driving on the freeway the traction control light came on and for a brief moment the revs went up as if the clutch is slipping. I stopped and restarted and all back to normal. The second time I was driving very slow when the TC lights comes on again and the limp light on and then off. The TC light did not go off but the manual gear selection was not working. Restarted the car and all back to normal. I took the car to a Ford dealer and his feedback was: There was a transmission errors but with no history so no detail. Gearbox oil good, torque converter good, solenoid good. Just paid for the test that told me nothing. Two days later same problem. Can anybody help that had the same issues. The last work that was done on the car was to replace both upper control arms, maybe a damaged speed sensor ???????